A Mortgage Loan is a money advance given by a bank against your property. The property could be your house, a piece of land or any other form of personal or commercial real estate in your name. This makes it a secured loan, which means the lender can forfeit your property if you fail to repay the loan. If you are buying property for the first time, you can use it as collateral to get a Mortgage Loan. This is also known as liens against property or claims on property.
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